FIAT vs. IVVW
FIAT (YieldMax Short COIN Option Income Strategy ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. FIAT is actively managed, while IVVW is passively managed. Over the past year, FIAT returned -0.18% vs 20.07% for IVVW. At a correlation of -0.54, they often move in opposite directions. FIAT charges 0.99%/yr vs 0.25%/yr for IVVW.
Performance
FIAT vs. IVVW - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FIAT achieves a 13.84% return, which is significantly higher than IVVW's 4.84% return.
FIAT
- 1D
- 4.32%
- 1M
- 16.99%
- YTD
- 13.84%
- 6M
- 33.71%
- 1Y
- -0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- -0.02%
- 1M
- 1.90%
- YTD
- 4.84%
- 6M
- 6.58%
- 1Y
- 20.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIAT vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 13.84% | -24.17% | -28.61% |
IVVW iShares S&P 500 BuyWrite ETF | 4.84% | 11.71% | 6.95% |
Correlation
The correlation between FIAT and IVVW is -0.50, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.50 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | -0.54 |
The correlation between FIAT and IVVW has been stable across timeframes, ranging from -0.54 to -0.50 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FIAT vs. IVVW — Risk / Return Rank
FIAT
IVVW
FIAT vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Short COIN Option Income Strategy ETF (FIAT) and iShares S&P 500 BuyWrite ETF (IVVW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| FIAT | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.73 | ||
| Sortino ratioReturn per unit of downside risk | -3.40 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.61 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | 3.47 | -3.47 |
| Martin ratioReturn relative to average drawdown | -0.01 | 19.13 | -19.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FIAT | IVVW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.00 | 2.73 | -2.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | 1.07 | -1.44 |
Drawdowns
FIAT vs. IVVW - Drawdown Comparison
The maximum FIAT drawdown since its inception was -70.50%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for FIAT and IVVW.
Loading charts...
Drawdown Indicators
| FIAT | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.50% | -16.79% | -53.71% |
Max Drawdown (1Y)Largest decline over 1 year | -42.26% | -5.81% | -36.45% |
Current DrawdownCurrent decline from peak | -50.94% | -0.09% | -50.85% |
Average DrawdownAverage peak-to-trough decline | -45.35% | -1.75% | -43.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.32% | 1.05% | +26.27% |
Volatility
FIAT vs. IVVW - Volatility Comparison
YieldMax Short COIN Option Income Strategy ETF (FIAT) has a higher volatility of 15.34% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 1.13%. This indicates that FIAT's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FIAT | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.34% | 1.13% | +14.21% |
Volatility (6M)Calculated over the trailing 6-month period | 42.03% | 6.07% | +35.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.49% | 7.40% | +48.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.56% | 12.66% | +47.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.56% | 12.66% | +47.90% |
FIAT vs. IVVW - Expense Ratio Comparison
FIAT has a 0.99% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
FIAT vs. IVVW - Dividend Comparison
FIAT's dividend yield for the trailing twelve months is around 93.28%, more than IVVW's 19.70% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 93.28% | 178.11% | 70.99% |
IVVW iShares S&P 500 BuyWrite ETF | 19.70% | 18.55% | 13.72% |
Frequently Asked Questions
FIAT and IVVW have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIAT has higher volatility (15.34%) compared to IVVW (1.13%). In terms of maximum drawdown, FIAT dropped -70.50% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 20.07% vs -0.18% for FIAT. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 20.07% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.99% for FIAT.
FIAT has the higher dividend yield at 93.28%, compared with 19.70% for IVVW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 0.99% for FIAT and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.73 vs -0.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for FIAT and IVVW
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer